Insider Selling: CNO Financial Group, Inc. (NYSE:CNO) General Counsel Sells $1,692,792.00 in Stock

CNO Financial Group, Inc. (NYSE:CNO) General Counsel Matthew J. Zimpfer sold 40,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $41.49, for a total value of $1,692,792.00. Following the completion of the sale, the general counsel now owns 244,943 shares of the company’s stock, valued at approximately $10,162,685.07. This trade represents a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

CNO Financial Group Stock Performance

CNO opened at $39.81 on Monday. The stock has a market cap of $4.11 billion, a PE ratio of 10.64 and a beta of 1.04. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $42.02. The stock’s 50 day simple moving average is $38.72 and its 200-day simple moving average is $36.77.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. Sell-side analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, March 10th. CNO Financial Group’s dividend payout ratio is presently 17.11%.

Institutional Trading of CNO Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp grew its position in CNO Financial Group by 368.2% in the fourth quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 626 shares during the period. Smartleaf Asset Management LLC grew its position in CNO Financial Group by 95.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 417 shares during the period. Principal Securities Inc. grew its position in CNO Financial Group by 51.6% in the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 325 shares during the period. Headlands Technologies LLC grew its position in CNO Financial Group by 193.2% in the fourth quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 881 shares during the period. Finally, Quarry LP grew its position in CNO Financial Group by 137.8% in the fourth quarter. Quarry LP now owns 1,334 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 773 shares during the period. 95.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CNO shares. BMO Capital Markets started coverage on CNO Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target on the stock. Royal Bank of Canada lifted their price target on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 price target (up from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. Jefferies Financial Group lifted their price target on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods lifted their price target on CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.50.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.